Banc of California Inc

BANC remains in a Stage 2 advancing phase with clear higher highs and higher lows intact above rising short-term EMAs. Price is extended above the 9, 20, and 50 EMAs and the OB/OS tag shows extreme overbought conditions, indicating short-term exhaustion risk. The medium-term bias remains bullish, supported by the primary HHHL pattern, rising EMAs, and low stage transition risk. However, timing is unfavorable for immediate entry. We prefer to defer and wait for a pullback into the rising EMA zone or structural support before initiating a long position.

• ↑EPS jumped 50% YoY to $0.39; net interest margin up 16 bps to 3.24%
• ↑Repurchased 1.7 M shares and increased dividend from $0.10 to $0.12
• ↓Uptick in classified and special-mention loans may pressure credit quality